Genius Sports (NYSE:GENI) Posts Earnings Results, Beats Estimates By $0.06 EPS

Genius Sports (NYSE:GENI) posted its earnings results on Tuesday. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.06, Briefing.com reports. The firm had revenue of $120.20 million during the quarter, compared to analyst estimates of $118.94 million. Genius Sports had a negative return on equity of 15.30% and a negative net margin of 21.93%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. Genius Sports updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Genius Sports Stock Up 5.8 %

Shares of GENI traded up $0.55 during trading hours on Wednesday, reaching $10.02. The stock had a trading volume of 2,673,781 shares, compared to its average volume of 2,352,421. The firm has a 50-day moving average of $7.53 and a 200 day moving average of $6.52. The company has a market cap of $2.30 billion, a P/E ratio of -22.67 and a beta of 1.98. Genius Sports has a 52 week low of $4.90 and a 52 week high of $10.06.

Analyst Upgrades and Downgrades

Several research firms have commented on GENI. B. Riley upped their price target on Genius Sports from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Oppenheimer boosted their price target on Genius Sports from $10.00 to $12.00 and gave the company an “outperform” rating in a research note on Wednesday. Benchmark reissued a “buy” rating and set a $10.00 price objective on shares of Genius Sports in a report on Friday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $9.00 target price on shares of Genius Sports in a report on Tuesday. Finally, Macquarie dropped their price objective on shares of Genius Sports from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Thursday, July 18th. Ten analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $9.65.

About Genius Sports

Genius Sports Limited engages in the development and sale of technology-led products and services to the sports, sports betting, and sports media industries. It offers technology infrastructure for the collection, integration, and distribution of live data of sports leagues; streaming solutions comprising technology, automatic production, and distribution for sports to commercialize video footage of their games; and end-to-end integrity services to sports leagues, such as full-time active monitoring technology, which uses mathematical algorithms to identify and flag suspicious betting activity in global betting markets, as well as a full suite of online and offline educational and consultancy services.